The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-01-02
IRON AND STEEL INTERESTS.
Improvement During the Year Just Ended
Encouraging Outlook for the Future

PHILADELPHIA, dan 1.-The bulletin OF the
American Steel Association. published to-day,
contains a review Of the iron and steel indus
tries of the United States during the year end
ing yesterday, which shows some surprising
results 1t says our iron and steel industries
were especially active during 1856, and this ac-
tivity was fairly distributed through
out the year. An improvement in the
condition of most of these indus
tries had commenced in 1885, and when
the new year opened, and the temporary dis
couraeement produced by the Connellsvlle
strike, had disappeared the certainty of a much
more active year than 1885 + d become assured
Orders became more abundant, and, except in
two branches. they have continued to
bear most favorable relation to our producing
capacity. Our production in 1886. of pig-iron,
Bessemer steel and steel rails, open hearth steel.
structuraliron and steel, and some other products
has accordingly been much larger than In 1880,
and our production of pig iron, Bessemer steel,
Bessemer steel rails and open hearth steel has
been much the largest in our history. We esti-
mate the production of these four leading
products in 1856 to have been follows. com
pared with the production in 1885: Pig iron,
5,6000o0 gross tons, against 4,044, 526 in 1885;
Bessemer steel ingcts. 1.OOO,OOO gross tons.
against 1519 430 in 1885; Bessemer steel rails,
1900, 900 gross tons, against 95,41 in
1885, Open-neartn steel, ZUU,UUU gross tons,
against 1905 in 1885. The figures for 1886
have been estimated with care. and we believe
will be fully verified by the official returns
which we collecting from the manu-
facturers. They are marvellous in their mere
magnitude, but more marvellous still in showing
our progress as iron and steel producers in one
year. Our production of iron ore in 1886 was
about TO- 900, 900 tons, and we imported about |,
900 900 tons Notwths landing the steady increase
in the demand for iron and steel during 1885, it
ic VIZ Ia hat oAuap oc1iu
Such advance as was established came gradually.
and in some instances, as in the case of bar
iron, slowly, to meet the increased cost Of pro-
duction. The product of nails during the year
actually declined. although the consumption IN
creased In this case the producing capacity OF
the country is much beyond its wants. After
comparing prices, the Review proceeds:
1t may be said Of the present prices for pigron and
steel rails that they have only recently been estab
ished and that in the of steel rails large con
tracts for delivery in 1887 have been made at $3i
and $35. Our importatons Of iron and steel during
the nass f 1855 In sse we
ported about 400 tons of pig about
$4,000 tons of old iron; over 1oo.0o0 tons
tons of tr plates. fully 1875 600 tons Of wire rods
and about $4,000 tons of steel rails Our total i'm
portation of iron and steel in 1886 will amount to
900 tons. The stocks of unsold pg-iron in this
country at the close oa 1886 probably larger
than at the close of 1885 when they amounted to
ST. ,SS5 gross tons. which a very small surplus
when the rig.iron wants of the country consid
cred
During $50 this country built over 900 miles q
new railroad. against 3 .313 miles reported by Mr.
Poor for 1885 This great increase in railroad build
ing in 1885 contributed largely to the improvement
in our iron and steel industries which has been no
| ticed.
The general business outlook for 1887 is at this
| time very favorable. and for iron and stee
industries it is especially so. Railroad building
| promises to be active in 1887 than il
/ 1856, but Of us know what day or mont
may bring forth in the stock market in the nanca
or tariff legislation of Congress, the condition O
/ the countrys crops Of one thing feel certain
| Speaking generally. prices must stop where they are
will have such an influx of foreign iron and stee
In 1887 we have rarely, il ever. experienced w
need rot dwell the consequences which would b
| sure to follow.